BOARD OF GOVERNORS For Immediate Release H'4.1 OF THE FEDERAL RESERVE SYSTEM November 5, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS

and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS

The average of daily figures of member "bank reserves for the week ended November 4 increased $143 million to $18,711 million. Estimated required reserves increased $54 million; and estimated excess reserves increased $89 million to $378 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $448 million, compared with $501 million the week before.

e The principal changes supplying average reserves were increases of $180 million in U. S. Government securities bought outright and $121 million held under repurchase agreement, $99 million in gold stock, and $36 million in member bank borrowings, and a decrease of $59 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $252 million ^ ^serve float, and increases of $47 million in money in circulation and $62 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $90 million.

As of Wednesday, November 4, holdings of U. S. Government securities bought outright were $189 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $256 million higher, and member bank borrowings were $292 million lower.

Member bank reserves, Reserve Bank credit, and related items

Reserve Bank credit: U. S. Government securities--Bought outrightSystem account Held under repurchase agreement

Acceptances Bought outright Held under repurchase agreement

Loans, discounts, and advances--Member bank borrowings Other

Float Total Reserve Bank credit

Gold stock Treasury currency outstanding

Money in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net)

Member bank reserves--Required reserves (estimated) Excess reserves (estimated)

Averages of daily figures Week ended Change from week ended Wednesday, November 4, October 28, [November 5, Nov. 4,

1959 1959 1 1958 1959 (In millions of dollars)

26,544 +180 +1,164 26,553 142 +121 + 63 255 25 + 3 - 11 25 1 + 1 + 1

826 + 36 + 424 638 8 + 1 + 6 8 897 -252 + 101 657 28,443 + 90 +1,749 28,135 19,585 + 99 -l,094 19,585 5,299 + 2 + 77 5,301 53,328 +192 + 733 53,021

31,920^ + 47 + 498 31,971 4o8/-f + 12 - 273 413 471 - 59 + l46 453 293 - 4 + 10 308 397 + 62 + 6 335 1,127 - ,9 + 49 1,126

34,617 + 49 + 438 34,606 18,711 +1^3 + 295 18,415 18,333 + 1 5 + 325 18,377 378 + 89 - 30 38

011 November 4, 1959, U. S. Government securities held in custody by r5* e r a l R e s e r v e Banks for foreign account were $4,390 million, a decrease of $210 million for the week and an increase of $598 million from the comparable date a year ago.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED

(in thousands of dollars)

A S S Gold certificate

Change since

E T S account

Redemption fund for F. R. notes Total gold certificate reserves

F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances--bought outright U. S. Government securities:

Bought outright--Bills Certificates Notes Bonds Total bought outright

Held under repurchase agreement Total U. S. Government securities Total loans and securities

Due from foreign banks Cash items in process of collection Bank premises Other assets

TOTAL ASSETS L I A B I L I T I E S

Federal Reserve notes ~ ~ Deposits:

Member bank reserves U. S. Treasurergeneral account Foreign Other

Total deposits Deferred availability cash items Other liabilities and accrued dividends

TOTAL LIABILITIES C A P I T A L A C C O U N T S

Capital"paid In Surplus Other capital accounts

TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit

and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents

Industrial loan commitments

November 4, October 28. November 5, 1959 1959 1958

18,341,641 + 99,998 - 851,251 947,997 166 + 60,700

19,289,638 + 99,632 - 790,551 430,760 - 46,617 + 109,579 384,716 - 2,348 + 16,774 645,371 - 291,177 + 142,902

338 24,539 + 2,001 10,623

2,551,650 + 188,700 + 1,129,540 10,506,993 - - -11,000,298 11,010,298 +11,000,298 2,483,771 W 26,552,712 + 188,700 + 1,129,540

255,600 + 255,600 + 159,800 26,808,312 + 444,300 + 1,289,340 27,478,222 + 155,124 + 1,421,281

15 - - mm 5,292,093 - 2,769 + 469,782

98,383 - 136 + 5,196 308,221 + 17,502 + 85,759

53,282,048 + 220,588 + 1,317,820

27,603,683 + 97,911 + 519,984 18,4l4,769 + 11,397 + 133,385

453,130 - 83,108 + 259,580 307,772 - 5,971 + 8,395 334,680 + 7,147 + 2,795

19,510,351 - 70,535 + 404,155 4,634,982 + 175,268 + 253,450

38,286 + 1,283 + 15,685 51,787,302 + 203,927 + 1,193,274

384,055 + 202 + 26,553 868,410 + 59,215 242,281 + 16,459 + 38,778 53,282,048 + 220,588 + 1,317,820

40.9# + .1$ 2.6# 62,644 + 265 10,846 - - 1,019

MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 4, 1959 (Acceptances and securities held under repurchase agreement are classified as

maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and U. S. Government advances Acceptances securities sSK. -a T "IT

Over 5 years to 10 years __ klO rtt 0 v e r_ 1 0 years __ __ 1.099/772

T 0 t a l 645,371 24, 539 26,' 608,' 312 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) Total

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 4, 1959 Boston New York Phila-delphia

Cleve-land Richmond

(In thousands 958,759 4,561,859 1141,865 1602,252 1074,286 57,487 207,073 60,309 84,026 83,005

Atlanta Chicago St. Louis Minne-apolis

Kansas City Dallas

of dollars) 843,561 3205,847 753,777 368,692 665,755 55,808 173,864 44,664 22,786 43,512

San Francisco

A S S E T S Gold certificate account Redemption fund for

F. R. notes Total gold certificate

reserves F.R. notes of other Banks Other cash Discounts and advances Acceptances

Bought outright U. S. Govt, securities: Bought outright Bills Certificates Notes Bonds Total

Held under repurchase agreement

Total U. S. Govt, sees. Total loans & securities Due from foreign banks Cash items in process of collection

Bank premises Other assets

TOTAL ASSETS

18,341,641 947,997

19,289,638 430,760 384,716 645,371 24,539

2,551,650 10,506,993 11,010,298 2.483.771 26,552,712

255.600 26,808,312 27,478,222

15 5,292,093

98,383 308,221 53,282,048

706,326 2458,662 30,293 85,170

1016,246 4,768,932 1202,174 1686,278 1157,291 899,369 3379,711 798,441 391,478 709,267 736,619 2543,832 43,086 25,736 13,874

138,337 569,637 596,923 134,658

84,127 64,308 141,856 24,539

642,128 2,644,106 2,770,763 625.046

32,581 27,772 39,991 52,140 31,709 9,033 33,459 17,756 19,402 21,945 35,697 26,597 3^,705 66,344 20,617 10,564 13,150 15,362

39,704 49,691

50,853 60,188 19,300 109,017 139,012 16,770 11,870 54,569 18,650 9,412

145,511 220,917 163,529 134,482 441,569 103,776 58,118 109,989 599,172 909,674 673,373 553,760 1818,256 427,319 239,318 452,904 627,873 953,250 705,628 580,287 1905,354 447,789 250,782 474,599 141.639 215.040 159,180 130.905 429.821 101.015 56,573 107,063

101,847 291,447 419,376 1200,098 439,465 1257,585 99,137 283,694

1439,555 6,682,043 1514,195 2298,881 1701,710 1399,434 4595,000 1079,899 604,791 1144,555 1059,825 3032,824 255i 600 .

1439,555 6,937.643 1514.195 2298,881 1701.710 1399,434 4595.000 1079,899 6o4,791 1144,555 1059,825 3032,824 1453,429 7,104,038 1565,048 2359,069 1721,010 1508,451 4734,012 1096,669 616,661 1199,124 1078,475

1 1 / 4 1 1 1 1 2 1 2 / 1 1 401,163 904,031 327,163 440,179 405,555 432,480 868,888 261,551 156,360 270,070 259,579 4,359 10,009 4,074 9,255 6,741 9,702 l4,34l 7,112 5,143 4,650 10,575

16,565 76.622 17,254 26.960 19,596 17,299 53.124 12.388 6,981 14,043 12,3,23..

3042,236 1

565,074 12,422 35.066

2960,585 13,012,071 3170,240 4585,211 3376,782 2954,147 9148,131 2205,812 1220,646 2228,06l 2132,336 6288,026

1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM ON NOVEMBER 4, 1959 Total Boston New York Phila-delphia

Cleve-land Richmond Atlanta Chicago

St. Louis

Minne-apolis

Kansas City Dallas

San Francisco

L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits

Deferred availability cash items

Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS

Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS

Conting. liab. on accept-ances purchased for foreign correspondents

27,603,683 18,414,769

453,130 307,772 334,680

19,510,351

4,634,982 38,286

51,787,302

384,055 868,410 242,281

53,282,048

62,644

(In thousands of dollars) 1570,870 6,443,626 1735,855 2505,835 2105,595 1526,792 5238,677 1218,802 602,944 1101,965 804,281 2748,441 899,974 4,880,080 941,529 1497,720 776,047 25,901 61,533 36,124 39,896 47,489 16,335 1/93,932 19,602 26,730 14,850

352 272,405 3,656 924 3,582

937,931 2864,489 689,190 412,591 800,171 28,897 48,345 25,130 24,487 38,016 13,959 43,956 10,989 7,128 11,583 1,258 805 488 278 1,071

979,750 2735,297 32,765 44,547 15,444 33,264 1,143 48,718

942,562 5,307,950 1000,911 1565,270 841,968 992,045 2957,595 72$,797 444,484 850,841 1029,102 2861,826

361,757 842,428 333,486 376,254 349,220 370,506 722,644 202,235 135,543 213,596 221,540 505,773 1,791 11,014 1,994 3,710 2,022 1,911 6,296 1,361 1,091 1,546 1,445 4,105

2876,980 12,605,018 3072,246 4451,069 3298,805 2881,254 8925,212 2148,195 1184,062 2167,948 2056,368 6120,145

18,958 50,116 14,531

110,338 238,902 57,813

22,787 59,607 15,600

36,076 76,643 21,423

17,207 44,846 15,924

19,933 52,308 % 4 5 2

12,805 33,746 11,066

8,742 20,785 7,057

15,687 32,935 11,491

22,086 47,128 95,761 24,992

2960,585 13,012,071 3170,240 4585,211 3376,782 2954,147 9148,131 2205,812 1220,646 2228,061 2132,336 6288,026

3,449 2/17,500 4,138 5,643 3,135 2,947 9,280 2,320 1,505 2,445 3,260 7,022 FEDERAL RESERVE AGENTS' ACCOUNTS

28,555,044 1651,260 6,684,462 1780,158 2569,769 2167,610 1589,094 5353,576 1265,773 616,798 1129,317 853,428 2893,799 F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral

10,510,000 530,000 2,700,000 640,000 920,000 700,000 500,000 2000,000 430,000 200,000 121,099 - ~ - - 50,345 -- - - - -- 16,485 - -19,160,000 1200,000 4,100,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000

29,791,099 1730,000 6,800,000 1890,345 2670,000 2250,000 1700,000 5500,000 1381,485 650,000 1/ After deducting $213,840,000 participations of other Federal Reserve Banks 2/ After deducting $45,144,000 participations of other Federal Reserve Banks

300,000 290,000 1300,000 54,269 - --850,000 625,000 1800.000 1204,269 915,000 3100,000

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis